Jefferies Financial Group reported a significant increase in its fiscal first quarter earnings, attributed to a robust performance in the investment-banking sector and capital markets. The company's Investment Banking net revenues reached $740 million, marking a 28.2% increase from the previous quarter and a 31.4% rise from the same quarter last year. This growth is primarily due to improved mergers and acquisitions (M&A) and equity underwriting activity. Additionally, Jefferies surpassed expectations with earnings beating by $0.12 and revenue forecasts, though its stock price barely changed in after-hours trading. The firm's investment banking pipeline continues to strengthen, indicating a developing robust market.
Jefferies Q1 profit climbs on investment banking, asset management revenue jump https://t.co/JJm0WHci94 https://t.co/89Z0EMVEf2
Jefferies Financial Group saw its fiscal first quarter earnings rise on renewed activity in the investment-banking business and strength in capital markets. Bloomberg's Neil Sipes and Katherine Doherty examine the results https://t.co/T9rHUttKBX https://t.co/VzevfQkObi
Jefferies double beat. CEO @HandlerRich: "Investment Banking net revenues for the quarter were $740M, up 28.2% QoQ and 31.4% YoY, primarily due to improved M&A and equity underwriting activity" $JEF: barely changed AH https://t.co/6EZETHrSns
Jefferies Financial Group’s earnings rose in its fiscal first quarter on strength in capital markets and renewed activity in the investment-banking business. https://t.co/ncyKjyWuQ9
Jefferies beats by $0.12, beats on revs $JEF
$JEF: “our Investment Banking pipeline continues to strengthen, which leads us to believe a more robust market is developing.” “Investment Banking net revenues for the quarter were $740 million, up 28.2% from the prior quarter and 31.4% from the same quarter last year”